For Sale
$1,772,000

328 Person StFayetteville, NC 28301

High-yield net lease; strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This fee-simple industrial property in Fayetteville, NC, offers a compelling investment opportunity. The 26,388 square-foot building, situated on a 1.9-acre lot, is currently under a net lease with 4D Signs Express, expiring November 29, 2031. The lease features a desirable 3% annual rent increase, providing substantial rent growth potential over the remaining seven-year term. The property boasts a strong 8.00% cap rate and a current NOI of $141,719. Significant improvements were completed in 2023, including new HVAC units and roof (with transferrable warranties from prior improvements in 2018). The tenant's personal guarantees further enhance the investment's security. The property benefits from its strategic location within a dense industrial and retail corridor, near major employers like Fort Liberty (formerly Fort Bragg), Fayetteville State University, and Methodist University, as well as numerous healthcare facilities and retail destinations including Walmart, Target, and Lowe's. The surrounding area exhibits strong population growth projections, adding to the property's long-term value. The building features 31 parking spaces and is zoned for commercial use. Built in 1971, the single-story structure underwent renovations in 2023. The property's proximity to major transportation arteries and educational institutions makes it an attractive investment with significant upside potential. The asking price is $1,772,000, representing a price per square foot of $67.15 and a price per acre of $961,676. The property is ready for immediate occupancy on November 30, 2023.

Highlights

  • $1,772,000 asking price for this 26,388 SF industrial property, offering an 8.00% cap rate.
  • Net lease with a credit tenant, 4D Signs Express, under a NN+ lease with 7 years remaining until November 29, 2031.
  • Features 3% annual rent bumps and a strong NOI of $141,719.
  • Recently renovated in 2023, situated on a 1.9-acre lot in a prime Fayetteville, NC location.
  • Excellent proximity to Fort Liberty, major healthcare facilities, universities, and numerous retail amenities.

Property Details for 328 Person St

Property type
Warehouses, Industrial properties
Square Feet
26,388 SF
Year Built/Renovated
1971/2023
Buildings
1
Stories
1
Lot Size (sq. ft)
82,764 SF

Location Insight

City
Fayetteville
County
Cumberland
State
North Carolina
Latitude
35.0500783
Longitude
-78.8734022
328 Person St, Fayetteville, North Carolina

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328 Person St
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